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 ADITYA Code for
MAXIMUM Discount on
Karma Batch

Flat 45% off by using

Code ADITYA
Question: Hilton Young Commission recommended the formation
of RBI in which year ?

a) 1926
b) 1928
c) 1930
d) 1932
e) 1934
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Question: Hilton Young Commission recommended the formation
of RBI in which year ?

a) 1926
b) 1928
c) 1930
d) 1932
e) 1934
 RBI Monetary Policy of RBI
▪ Recommend by: Royal commission on Indian currency and
finance, also known as Hilton Young Commission in 1926.
▪ Register under: RBI ACT-1934,

▪ Formation: 1st April 1935

▪ HQ: Mumbai

➢Offices
➢Has 31 regional offices, most of them in state capitals
Question: RBI was Nationalised on which of the following date ?

a) 1 April 1935
b) 31 March 1934
c) 1 January 1949
d) 1 July 1955
e) None of these
Question: When RBI was started in 1935, it was a Bank of

a) Indian Government
b) British Government
c) A Private Shareholding Bank
d) Join owned bank by Indian and British Government
e) None of these
Question: When RBI was started in 1935, it was a Bank of

a) Indian Government
b) British Government
c) A Private Shareholding Bank
d) Join owned bank by Indian and British Government
e) None of these
Question: RBI was Nationalised on which of the following date ?

a) 1 April 1935
b) 31 March 1934
c) 1 January 1949
d) 1 July 1955
e) None of these

▪ The Reserve Bank of India was nationalised with effect from

1st January, 1949 on the basis of the Reserve Bank of
India (Transfer to Public Ownership) Act, 1948
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RBI : Main Functions

1. Issuer of Currency Notes

2. Banker to the Government
3. Lender of Last Resort
4. Money Market in India is controlled by RBI
5. RBI represents India in IMF
6. Banking Lokpal (Ombudsman) in India, appointed by the RBI
7. RBI is controller of Monetary Policies in India
Question: Which was last coin that was Withdrawal from the Circulation
a) 10 Paise
b) 25 Paise
c) 50 Paise
d) One Rupee Coin
e) None of these
Question: Which was last coin that was Withdrawal from the Circulation
a) 10 Paise
b) 25 Paise
c) 50 Paise
d) One Rupee Coin
e) None of these

➢ The Government of India has the sole right to mint coins. The
responsibility for coinage vests with the Government of India in terms
of the Coinage Act, 1906 as amended from time to time.
Question: Which is smallest currency note in India issues at present
a) 1 Rupee
b) 2 Rupee
c) 5 Rupee
d) 10 Rupee
e) 20 Rupee
Question: Which is smallest currency note in India issues at present
a) 1 Rupee
b) 2 Rupee
c) 5 Rupee
d) 10 Rupee
e) 20 Rupee
Knowledge Funda
• Under Section 22 of the Reserve Bank of India Act, RBI has sole right to issue
currency notes of various denominations except one rupee notes.
• The One Rupee note is issued by Ministry of Finance and it bears the
signatures of Finance Secretary, while other notes bear the signature of
Governor RBI
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Question: Coins in India can be issued up to the denomination of _______
a) 10 Rupee
b) 20 Rupee
c) 50 Rupee
d) 100 Rupee
e) 1000 Rupee
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Question: Coins in India can be issued up to the denomination of _______
a) 10 Rupee
b) 20 Rupee
c) 50 Rupee
d) 100 Rupee
e) 1000 Rupee
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There are 4 mints in India

Mumbai : 1829
a. Diamond shaped mark below the date
b. Letter 'B' below the date
c. Letter 'M' below the date, after 1996
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There are 4 mints in India

Hyderabad Mint: 1948

a. Split Diamond
b. Dot within Diamond
c. Star Below the Date
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There are 4 mints in India

New Delhi, Noida: 1984

• Round dot below the date
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Kolkata Mint
• The first Calcutta Mint was established in 1759-60
• In 1952 Alipore Mint, Kolkata was started which was later renamed
as India Government Mint, Kolkata
Question. The Reserve Bank of India will change its financial accounting
year with that of the central government with effect from______
a) 2019-20
b) 2020-21
c) 2021-22
d) 2022-23
e) None of these
Question. The Reserve Bank of India will change its financial accounting
year with that of the central government with effect from______
a) 2019-20
b) 2020-21
c) 2021-22
d) 2022-23
e) None of these

• Fiscal 2019-20 will end on June 30, 2020

• Fiscal year 2020-21 will begin on July 1, 2020 but ends on March 31,
2021
• Accounting year was changed to July-June in March 1940.
The Central Board of RBI consists of:
Official Directors
• Full-time : Governor and not more than four Deputy Governors
Non-Official Directors
• Nominated by Government: Ten Directors from various fields and two
government Official
• Others: four Directors - One each from four local boards

• First governor of RBI: Osborne Smith

• First Indian governor of RBI: C.D Deshmukh
• Current Governor of RBI: Shaktikanta Das
• Current Deputy Governors are B.P Kanungo, M.K Jain and Michael
Debabrata Patra, M Rajeshwar Rao
Question: Which of the following is not the subsidiary of RBI

a) DICGC
b) National Housing Bank
c) Bharatiya Reserve Bank Note Mudran Private Limited
d) ReBIT
e) Indian Financial Technology and Allied Services
Question: Which of the following is not the subsidiary of RBI

a) DICGC
b) National Housing Bank
c) Bharatiya Reserve Bank Note Mudran Private Limited
d) ReBIT
e) Indian Financial Technology and Allied Services
Question: Which of the following is not the subsidiary of RBI

a) DICGC
b) National Housing Bank
c) Bharatiya Reserve Bank Note Mudran Private Limited
d) ReBIT
e) Indian Financial Technology and Allied Services
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Question. National Housing Bank which is under the control of Centra Government now,and
earlier under the control of RBI, When did the transfer of ownership take place?
(a) July, 1982
(b) July, 1988
(c) April, 2019
(d) March, 2000
(e) March, 2001
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Question. National Housing Bank which is under the control of Centra Government now,and
earlier under the control of RBI, When did the transfer of ownership take place?
(a) July, 1982
(b) July, 1988
(c) April, 2019
(d) March, 2000
(e) March, 2001

▪ NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987
▪ The Finance Act, 2018 amended certain provisions of the National Housing Bank Act, 1987,
inter alia, enabling transfer of share capital of NHB from Reserve Bank to Central
Government
▪ NHB is wholly owned by Govt. of India as after 24 April 2019 notification of RBI, which
contributed the entire paid-up capital.
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▪ NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987

▪ Set up with an initial capital of Rs 100 crore

▪ authorized capital of NHB stands at Rs. 2,000 crore
▪ Pursuant to the announcement in the Union Budget 2019, necessary amendments were
proposed in the National Housing Bank Act 1987.
▪ Department of Financial Services, Ministry of Finance vide notification No. S.O.2902 (E)
dated 09.08.2019 has notified 09.08.2019, as the date from which the provisions of Part VII
of Chapter VI of the Finance (No.2) Act, 2019 shall come into force.
▪ Accordingly w.e.f. 09.08.2019, the regulation of HFCs stands transferred to RBI.
There are four Subsidiaries of RBI

1. DICGC

▪ Deposit Insurance Act, 1961 came into force on January 1, 1962.

▪ Previously known as Credit Guarantee Corporation of India Ltd.
▪ Deposit Insurance and Credit Guarantee Corporation (DICGC) came
into existence on July 15, 1978
▪ Chairman: MD Patra
2. Bharatiya Reserve Bank Note Mudran Private Limited

▪ Formation: 3rd February 1995

▪ Role: Production of bank notes in India
▪ Corporate Office situated at Bengaluru
▪ Manages 2 Presses one at Mysore in Karnataka and the other at Salboni in
West Bengal
▪ Chairman: Shri T. Rabi Sankar
3. ReBIT: Reserve Bank Information Technology Private Limited

▪ Founded: June 2016

▪ ReBIT has been set up by the Reserve Bank of India to serve its IT and
cybersecurity needs and to improve the cyber resilience of the Indian banking
industry
▪ Chairman: Mr Kiran Karnik
4. Indian Financial Technology and Allied Services

• IFTAS was established to facilitate the smooth functioning of banks, supporting

them to innovate, and to craft unique digital banking experiences.

• Function: To design, deploy & support IT-related services to the Reserve Bank of
India, and all Banks and Financial Institutions in the country.

• To promote cashless payments and to bolster system-wide financial settlement

framework, IFTAS has enabled the Global Interchange for Financial Transaction
(GIFT) Payment & Settlement System for the Royal Monetary Authority of
Bhutan

• Chairman: Mr Vivek Deep

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Reserve Bank of India's Innovation Hub

▪ RBIH shall create an ecosystem that would focus on promoting access to financial
services and products. This will also promote financial inclusion.

▪ The Hub will collaborate with financial sector institutions, the technology industry, and
academic institutions and coordinate efforts for the exchange of ideas and development
of prototypes related to financial innovations.

▪ It would develop internal infrastructure to promote fintech research and facilitate

engagement with innovators and start-ups.
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Question. Who is the chairman of Reserve Bank of India's Innovation Hub ?
भारतीय ररजर्व बैंक के इनोर्ेशन हब के अध्यक्ष कौन हैं?
a) Rajesh Bansal
b) S K Gopalakrishnan
c) Krishnan Ramanujan
d) Amit Saxena
e) S Ramann
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Question. Who is the chairman of Reserve Bank of India's Innovation Hub ?
भारतीय ररजर्व बैंक के इनोर्ेशन हब के अध्यक्ष कौन हैं?
a) Rajesh Bansal
b) S K Gopalakrishnan
c) Krishnan Ramanujan
d) Amit Saxena
e) S Ramann
▪ RBIH appointed Rajesh Bansal (founding team of Aadhaar ) as its chief executive officer,
with effect from May 17
▪ RBIH would be managed by a Governing Council (GC) consisting of 10 members (including
a chairperson). Shri Senapathy (Kris) Gopalakrishnan, co-founder and former co-
Chairman, Infosys, has been appointed as the first Chairperson of the RBIH.
▪ Global Deputy CTO of State Bank of India, Amit Saxena has joined RBI Innovation Hub as
the Chief Technology Officer (CTO).